
zerohedge|Mar 27, 2025 12:19
Top Overnight News
President Trump posted on Truth "If the European Union works with Canada in order to do economic harm to the USA, large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!"
President Trump announced the US is to impose 25% tariffs on all cars not made in the US, while he said they will be doing tariffs on pharmaceuticals and tariffs on lumber. Trump stated auto tariffs are going into effect on April 2nd and will start being collected on April 3rd, as well as noted that he will have a news conference on April 2nd which is the real Liberation Day. Furthermore, reciprocal tariffs on April 2nd will be on all tariffs but they will be lenient and in many cases, the tariffs will be less than the tariff charged on the US.
President Trump said there will be some form of a deal on TikTok and if the deal is not finished, it will be extended. Trump said there are numerous ways to buy TikTok and there is a lot of interest in TikTok, while he added that China has to play a role and he may give China a little reduction in tariffs to get it done
China reject Trump's offer of tariff waivers in exchange for TikTok deal, according to AFP
OpenAI is said to be close to a SoftBank-led 40 billion funding deal that would double its valuation to 300 billion. The AI developer’s funding round would be the largest of all time. BBG
US President Trump effectively cut 10% of funding for the Commerce Department's Bureau of Industry and Security which is the key agency in the US-China tech race: BBG
The Trump administration’s deep cuts to the federal workforce and research funding threaten to erode the quality and credibility of “gold standard” US statistics, economists have warned. US data, from the jobs report to inflation indices, can swing the Street’s $105tn stock and bond markets in milliseconds, and underpin policies that influence the trajectory of the world’s biggest economy. FT
Chinese Vice Premier Ding Xuexiang on Thursday pledged stronger policy support for the world's No.2 economy, which he said had started 2025 well and was on track to hit this year's growth target, buoyed by advancements in AI and other technologies. RTRS
Chinese financial authorities have told some companies and advisers that they can begin the process of launching mainland initial public offerings once more, in an early sign of a rebound in listings in the world’s second largest economy. Authorities have informed groups in the tech, advanced manufacturing, and consumer sectors in the past few weeks that they can file IPO paperwork. FT
China may inject up to 260 billion of liquidity into developers this year, Bloomberg Economics said. Meanwhile the biggest banks are said to be accelerating write-offs of soured property loans to clean up their balance sheets. BBG
Japanese PM Shigeru Ishiba said he won’t rule out taking countermeasures against the 25% tariff on US car imports. The new levies greatly reduce the likelihood of the BOJ raising rates on May 1, central bank watchers said. BBG
Ukraine is reviewing a economic partnership proposal from the US that may be signed as soon as next week, Scott Bessent told Fox. European leaders are meeting in Paris today to try to carve a role for themselves in the US-led ceasefire talks. BBG
Donald Trump said he’d impose tariffs “far larger than currently planned” on Canada and the EU if they work together against the US. Earlier, he announced a 25% levy on all car imports, effective next week. Reciprocal tariffs will be imposed on all nations, Trump added, though rates may be lower than expected. Trump also said he’d consider lowering levies on China to secure a TikTok deal. BBG
Copper traders are racing against time to ship the metal to the US before tariffs hit in weeks — not months. They risk losses on shipping costs and that may wipe out profits for those that locked in the spread between Comex and LME prices. BBG
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